RiverPark Advisors[see profile] is converting one of its hedge funds into a mutual fund. The RiverPark Long/Short Opportunity Fund is now available on the Charles Schwab, Fidelity, and Pershing platforms.

The fund is available in retail and institutional shares, with expenses of 200 and 185 bps, respectively. It is a conversion of a hedge fund RiverPark launched in October 2009.

Company Press Release

NEW YORK, Apr 02, 2012 (BUSINESS WIRE) -- RiverPark Advisors LLC ( www.riverparkfunds.com ), a New York-based investment advisory company, has introduced the RiverPark Long/Short Opportunity Fund (RLSFX), a new open-end mutual fund that seeks to provide long-term capital appreciation while protecting against downside risk, it was announced today. The new fund is a conversion of an existing hedge fund launched by RiverPark in October 2009, and will be managed by Mitch Rubin, RiverPark(eqnx:)s Chief Investment Officer, and the portfolio manager of the hedge fund since its inception.

The RiverPark Long/Short Opportunity Fund seeks to identify dominant secular, economic and demographic changes in society, and to invest in those industries and companies most affected, positively or negatively, by these changes. On the long side, the Fund employs a fundamental research approach in seeking to identify those companies that it believes have strong growth prospects, best in class management teams, strong pricing power, large market opportunities, a high return on capital, and attractive valuations. On the short side, the Fund seeks to identify those companies it believes have low quality management teams, a history of poor capital allocation, and that are losing competitive or pricing advantages.

(eqnx:)Many individuals believe that managing volatility and protecting against downside risk should be an important component of a fund(eqnx:)s investment objective,(eqnx:) said RiverPark(eqnx:)s Rubin. (eqnx:)At the same time, maintaining exposure to the equity markets is important for achieving longer-term financial goals. The RiverPark Long/Short Opportunity Fund is designed to help investors benefit from the potential upside of equities while providing some protection in a macro environment in which there remain many uncertainties.(eqnx:)

The RiverPark Long/Short Opportunity Fund will invest primarily in the securities of U.S. companies, but may invest up to 15 percent of its asset in foreign issuers. It will invest in companies across the capitalization spectrum and may employ leverage. In addition, the Fund will use swaps, options, and other financial instruments in pursuing its objective.

The RiverPark Long/Short Opportunity Fund is being offered in two share classes -- Retail (RLSFX) and Institutional (RLSIX), each with an expense ratio, not including investment related expenses that will be capped at 2.00% and 1.85%, respectively. It will be available starting March 30, 2012 through Charles Schwab, Fidelity, and Pershing.

The RiverPark family of funds now includes the RiverPark/Wedgewood Fund (retail:RWGFX)(institutional:RWGIX); the RiverPark Large Growth Fund (retail:RPXFX)(institutional:RPXIX)(the riverpark small cap growth fund (retail:RPSFX)(institutional:RPSZX); and the RiverPark Short Term High Yield Fund (retail:RPHYX)(institutional:RPHIX).

About RiverPark Advisors LLC

RiverPark Advisors, LLC is a New York-based investment advisory company and the sponsor of the RiverPark family of mutual funds. More information is available at www.riverparkfunds.com .

To determine if these Funds are an appropriate investment for you, carefully consider the Fund(eqnx:)s investment objectives, risk factors, charges and expenses before investing. This and other information may be found in the Fund(eqnx:)s prospectus, which may be obtained by calling 1-888-564-4517 or by visiting the website at www.riverparkfunds.com . Please read the prospectus carefully before investing.

Mutual fund investing involves risk including possible loss of principal. The Fund uses leverage. If the securities decrease in value, the Fund may suffer a greater loss than would have resulted without the use of leverage. With short sales, losses are potentially unlimited and expenses involved with the short strategy may impact the performance of the Fund. There can be no assurance that the Fund will achieve its stated objectives.

RiverPark Long/Short Opportunity Fund is distributed by SEI Investments Distribution Co., which is not affiliated with RiverPark Advisors, LLC, or any of their affiliates. The RiverPark Long Short Opportunity Fund is available to U.S. investors only.